Death whilst a Deferred Member
Planning for what happens to your pension benefits in the event of your death is not something many of us like to think about. However, you should consider the benefits payable so that your wishes are understood by the Trustees.
If you die while you are a deferred member of the Fund, the benefits that may be payable can include:
- A spouse’s or civil partner’s pension;
- A refund of contributions as a lump sum; and
- In some instances, children’s pensions.
Points to note about benefits that may be payable on the death of a member:
- If you are married or in a civil partnership at the time of your death, your spouse or civil partner will usually be entitled to 50% of your pension entitlement.
- If your spouse or civil partner is more than 15 years younger than you, any pension payable to your spouse or civil partner may be reduced at the discretion of the Trustees.
- Dependant children will be considered for a pension on your death.
- If you are not married or in a civil partnership but have a partner, or someone who is financially dependent on you, they may still be able to obtain a dependant’s pension. However, this is not payable automatically and will depend on the particular circumstances and is subject to Trustees discretion. The Trustee will also refer to the information provided on the completed Nomination form.
- A lump sum may also be payable to your dependants at the discretion of the Trustee, who will consider the information on your Nomination form.